Change of circumstances: CISG, CESL and a case from Scotland

Abstract

Purpose

The purpose of this paper is to present a critical analysis of the concept of “change of circumstances” as a justification for judicial revision of contracts.

Design/methodology/approach

The study analyses international legal texts on the subject in the light of a decision of the Inner House of the Court of Session in Scotland, Lloyds TSB Foundation for Scotland v. Lloyds Banking Group plc [2011] CSIH 87 (currently subject to appeal to the UK Supreme Court).

Findings

Whatever the merits of a change of circumstances doctrine, the Lloyds case does not provide a good example for its application.

Research limitations/implications

The scope of a change of circumstances doctrine should be tested by further comparative study.

Originality/value

This is the first consideration of the Lloyds case in an international and comparative context.

Citation

MacQueen, H.L. (2012), "Change of circumstances: CISG, CESL and a case from Scotland", Journal of International Trade Law and Policy, Vol. 11 No. 3, pp. 300-305. https://doi.org/10.1108/14770021211267397